Sunesis Advisors LLC Has $3.07 Million Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sunesis Advisors LLC grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 393.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,842 shares of the real estate investment trust’s stock after acquiring an additional 18,210 shares during the period. Mid-America Apartment Communities accounts for 1.9% of Sunesis Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Sunesis Advisors LLC’s holdings in Mid-America Apartment Communities were worth $3,071,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Murphy Middleton Hinkle & Parker Inc. increased its stake in shares of Mid-America Apartment Communities by 3.8% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 1,910 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 70 shares during the last quarter. Cape ANN Savings Bank lifted its position in shares of Mid-America Apartment Communities by 2.5% in the second quarter. Cape ANN Savings Bank now owns 3,339 shares of the real estate investment trust’s stock worth $507,000 after buying an additional 80 shares during the last quarter. Pathstone Family Office LLC boosted its stake in shares of Mid-America Apartment Communities by 2.4% during the 3rd quarter. Pathstone Family Office LLC now owns 3,425 shares of the real estate investment trust’s stock worth $531,000 after acquiring an additional 80 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Mid-America Apartment Communities by 22.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 84 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Mid-America Apartment Communities by 6.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,463 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 84 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MAA shares. Jefferies Financial Group reiterated a “hold” rating and set a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Truist Financial upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their price target for the stock from $154.00 to $158.00 in a report on Tuesday, January 16th. Mizuho lowered their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Finally, Morgan Stanley boosted their price objective on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $143.76.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,028 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the transaction, the chief executive officer now directly owns 304,523 shares of the company’s stock, valued at $39,651,939.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $131.33, for a total transaction of $48,723.43. Following the completion of the transaction, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total transaction of $524,485.88. Following the completion of the sale, the chief executive officer now owns 304,523 shares in the company, valued at $39,651,939.83. The disclosure for this sale can be found here. 1.33% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA traded up $0.78 during trading on Friday, reaching $131.58. The company had a trading volume of 741,936 shares, compared to its average volume of 725,311. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09. The business’s 50 day moving average price is $129.13 and its 200-day moving average price is $129.12. The stock has a market cap of $15.36 billion, a PE ratio of 27.94, a PEG ratio of 4.18 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. During the same quarter in the previous year, the business posted $2.32 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Mid-America Apartment Communities, Inc. will post 8.95 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.84%.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.